The document discusses the fire service system in Comilla, Bangladesh. It provides information on the management hierarchy, vehicles used, contact procedures, operations, training programs, and proposed solutions to address issues. The key issues identified are the lack of digital equipment, insufficient funding, manpower and equipment. Two proposals are evaluated - proposal A focuses on repairing tools, increasing online awareness and training, while proposal B involves purchasing new equipment, expanding facilities and increasing manpower. Proposal A is deemed more feasible due to lower costs. Future technologies discussed include biotelemetry, AI, VR/AR, autonomous vehicles and smart city integration.
Activity Based Costing: A Case of Plastim CorporationRahul Dhiman
Activity Based Costing: A Case of Plastim Corporation. This case is about comparison between the Modern Costing system is better than The Traditional System.
Activity Based Costing: A Case of Plastim CorporationRahul Dhiman
Activity Based Costing: A Case of Plastim Corporation. This case is about comparison between the Modern Costing system is better than The Traditional System.
The efficiency of all industrial and military equipment's deteriorates with time. Sometimes the equipment fails completely and effects the whole system. The maintenance costs (running costs) of an equipment also go on increasing with time. Thus it becomes more economical to replace the old equipment with a new one. Hence there is a need to formulae a most economical replacement policy which is in the best interest of the system.
Few people would start a journey with a map that shows neither where they are nor where they are going. Yet many companies seek to compete without knowing the true cost, and profit, of their products or services, and customers.
Directors often base corporate strategy on misleading information that supports bad decisions. This only helps competitors. Traditional financial information systems measure a company’s performance only in the aggregate.
They may not help to find opportunities to increase competitiveness in the market place.
To create more value and enhance their profitability, organisations in manufacturing and service require accurate information on costs. Activity Based Costing (ABC) can provide it. But organising an effective ABC initiative is not as simple as opening a book and beginning at Chapter One.
Cost ManagementLecture 24Chapter 10 Modified from P.docxfaithxdunce63732
Cost Management
Lecture 24
Chapter 10
* Modified from PPT slides of McGraw-Hill/Irwin
Activities
consume
resources Products
consume
activities
Recap of what we covered last class
Costing method that first assigns costs to
activities and then allocate them to products
based on the products’ consumption of
activities.
Activity-Based Costing
Activity-Based Cost Management
Activity-based cost
management uses activity
analysis in decision making.
Activity-based costing
focuses on activities in
allocating overhead
costs to products.
Activity-based
management focuses
on managing activities
to reduce costs.
Overview:
1. Explain the concept of activity-based cost management.
2. Use activity-based costing methods to assess customer and
supplier costs.
3. Distinguish between resources used and resources supplied.
4. Design cost management systems to assign capacity costs.
5. Describe how activities that influence quality affect costs and
profitability.
Managing the Cost of Customers and Supplies
Resources cost Customers (and suppliers)
use resources
Some customers use more
resources than others
Time Money=
Activities consume
resources
Services consume
activities
ABC and the Cost: Customers and Suppliers
Use the same four-step ABC product costing process to
assess customers and suppliers.
3. Compute a cost rate per cost driver unit or
transaction.
4. Allocate costs to customers by multiplying the
cost driver rate by the volume of cost driver units
consumed by the activity or transaction that
occurred.
1. Identify the activities that consume resources and
assign costs to them.
2. Identify the cost driver(s) associated with each
activity.
Example: Cost of Customers
Operating Data
Red’s Lumber
Jack Jill Firm
Sales 50,000$ 50,000$ 5,000,000$
Cost of goods (@60%) 30,000 30,000 3,000,000
Gross margin 20,000 20,000 2,000,000
Order/Delivery Charges (@16%) 8,000 8,000 800,000
Delivery costs 800,000
Other operating costs 1,435,000
Operating profit 565,000$
All customers pay a 16% delivery charge
Example: Red’s Lumber – Step 1
What activities consume resources
for Red’s delivering service?
Process Flow of the Delivery Service
Red’s Lumber
Entering
Order
Loading
Order
Delivering
Order
Identify the activitiesStep 1
Example: Red’s Lumber – Step 2
Identify the cost drivers and the
expected volume of each cost driver.Step 2
Entering order Number of orders entered
Loading order Number of items loaded
Delivering order Number of deliveries made
Delivery administration Order value
Activity Cost Driver
Example: Red’s Lumber – Step 2
Identify the cost drivers and the
expected volume of each cost driver.Step 2
Entering order Number of orders entered
Loading order Number of items loaded
Delivering order Number of deliveries made
Delivery administration Order value.
The efficiency of all industrial and military equipment's deteriorates with time. Sometimes the equipment fails completely and effects the whole system. The maintenance costs (running costs) of an equipment also go on increasing with time. Thus it becomes more economical to replace the old equipment with a new one. Hence there is a need to formulae a most economical replacement policy which is in the best interest of the system.
Few people would start a journey with a map that shows neither where they are nor where they are going. Yet many companies seek to compete without knowing the true cost, and profit, of their products or services, and customers.
Directors often base corporate strategy on misleading information that supports bad decisions. This only helps competitors. Traditional financial information systems measure a company’s performance only in the aggregate.
They may not help to find opportunities to increase competitiveness in the market place.
To create more value and enhance their profitability, organisations in manufacturing and service require accurate information on costs. Activity Based Costing (ABC) can provide it. But organising an effective ABC initiative is not as simple as opening a book and beginning at Chapter One.
Cost ManagementLecture 24Chapter 10 Modified from P.docxfaithxdunce63732
Cost Management
Lecture 24
Chapter 10
* Modified from PPT slides of McGraw-Hill/Irwin
Activities
consume
resources Products
consume
activities
Recap of what we covered last class
Costing method that first assigns costs to
activities and then allocate them to products
based on the products’ consumption of
activities.
Activity-Based Costing
Activity-Based Cost Management
Activity-based cost
management uses activity
analysis in decision making.
Activity-based costing
focuses on activities in
allocating overhead
costs to products.
Activity-based
management focuses
on managing activities
to reduce costs.
Overview:
1. Explain the concept of activity-based cost management.
2. Use activity-based costing methods to assess customer and
supplier costs.
3. Distinguish between resources used and resources supplied.
4. Design cost management systems to assign capacity costs.
5. Describe how activities that influence quality affect costs and
profitability.
Managing the Cost of Customers and Supplies
Resources cost Customers (and suppliers)
use resources
Some customers use more
resources than others
Time Money=
Activities consume
resources
Services consume
activities
ABC and the Cost: Customers and Suppliers
Use the same four-step ABC product costing process to
assess customers and suppliers.
3. Compute a cost rate per cost driver unit or
transaction.
4. Allocate costs to customers by multiplying the
cost driver rate by the volume of cost driver units
consumed by the activity or transaction that
occurred.
1. Identify the activities that consume resources and
assign costs to them.
2. Identify the cost driver(s) associated with each
activity.
Example: Cost of Customers
Operating Data
Red’s Lumber
Jack Jill Firm
Sales 50,000$ 50,000$ 5,000,000$
Cost of goods (@60%) 30,000 30,000 3,000,000
Gross margin 20,000 20,000 2,000,000
Order/Delivery Charges (@16%) 8,000 8,000 800,000
Delivery costs 800,000
Other operating costs 1,435,000
Operating profit 565,000$
All customers pay a 16% delivery charge
Example: Red’s Lumber – Step 1
What activities consume resources
for Red’s delivering service?
Process Flow of the Delivery Service
Red’s Lumber
Entering
Order
Loading
Order
Delivering
Order
Identify the activitiesStep 1
Example: Red’s Lumber – Step 2
Identify the cost drivers and the
expected volume of each cost driver.Step 2
Entering order Number of orders entered
Loading order Number of items loaded
Delivering order Number of deliveries made
Delivery administration Order value
Activity Cost Driver
Example: Red’s Lumber – Step 2
Identify the cost drivers and the
expected volume of each cost driver.Step 2
Entering order Number of orders entered
Loading order Number of items loaded
Delivering order Number of deliveries made
Delivery administration Order value.
In hau lee's uncertainty framework to classify supply chainsjohann11371
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1. Which of the following is a measure of operations and supply management efficiency used by Wall Street? Dividend payout ratio Receivable turnover Current ratio Financial leverage Earnings per share growth
2. An activity-system map is which of the following? A diagram that shows how a company's strategy is delivered to customers A timeline displaying major planned events A network guide to route airlines A facility layout schematic noting what is done where A listing of activities that make up a project
Energetic industry professional offering more than 5 Years’ experience in a vast array of domain such as Production, Quality, Technical analysis and Logistics, providing an overview of manufacturing processes. Self-motivated with a passion for improvement and a track record of getting more responsibility.
If the actual output of a piece of equipmentjohann11371
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1. Which of the following is a measure of operations and supply management efficiency used by Wall Street? Dividend payout ratio Receivable turnover Current ratio Financial leverage Earnings per share growth
2. An activity-system map is which of the following? A diagram that shows how a company's strategy is delivered to customers A timeline displaying major planned events A network guide to route airlines A facility layout schematic noting what is done where A listing of activities that make up a project
A company has actual unit demand for three consecutive yearsjohann11369
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1. Which of the following is a measure of operations and supply management efficiency used by Wall Street? Dividend payout ratio Receivable turnover Current ratio Financial leverage Earnings per share growth
2. An activity-system map is which of the following? A diagram that shows how a company's strategy is delivered to customers A timeline displaying major planned events A network guide to route airlines A facility layout schematic noting what is done where A listing of activities that make up a project
Which of the following is an input to the master production schedule (mps)johann11374
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1. Which of the following is a measure of operations and supply management efficiency used by Wall Street? Dividend payout ratio Receivable turnover Current ratio Financial leverage Earnings per share growth
2. An activity-system map is which of the following? A diagram that shows how a company's strategy is delivered to customers A timeline displaying major planned events A network guide to route airlines A facility layout schematic noting what is done where A listing of activities that make up a project
FOR MORE CLASSES VISIT
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1. Which of the following is a measure of operations and supply management efficiency used by Wall Street? Dividend payout ratio Receivable turnover Current ratio Financial leverage Earnings per share growth
2. An activity-system map is which of the following? A diagram that shows how a company's strategy is delivered to customers A timeline displaying major planned events A network guide to route airlines A facility layout schematic noting what is done where A listing of activities that make up a project
From an operational perspective, yield management is most effective under whi...johann11371
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1. Which of the following is a measure of operations and supply management efficiency used by Wall Street? Dividend payout ratio Receivable turnover Current ratio Financial leverage Earnings per share growth
2. An activity-system map is which of the following? A diagram that shows how a company's strategy is delivered to customers A timeline displaying major planned events A network guide to route airlines A facility layout schematic noting what is done where A listing of activities that make up a project
A company must perform a maintenance project consistingjohann11369
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1. Which of the following is a measure of operations and supply management efficiency used by Wall Street? Dividend payout ratio Receivable turnover Current ratio Financial leverage Earnings per share growth
2. An activity-system map is which of the following? A diagram that shows how a company's strategy is delivered to customers A timeline displaying major planned events A network guide to route airlines A facility layout schematic noting what is done where A listing of activities that make up a project
In designing a lean production facility layoutjohann11371
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1. Which of the following is a measure of operations and supply management efficiency used by Wall Street? Dividend payout ratio Receivable turnover Current ratio Financial leverage Earnings per share growth
2. An activity-system map is which of the following? A diagram that shows how a company's strategy is delivered to customers A timeline displaying major planned events A network guide to route airlines A facility layout schematic noting what is done where A listing of activities that make up a project
A company's production process has an 80 percent learning curve rateyearstart1
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1.
Which of the following is a measure of operations and supply management efficiency used by Wall Street?
Dividend payout ratio
Receivable turnover
Current ratio
Financial leverage
Earnings per share growth
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11. Voluntary Work
They are continuously generating volunteer..
They work-
• In different school/college.
• In social organization.
• In industry/factory
12. Name of the
Month
Name of the institution Trainer Total Trained till
last Month
Total Training
Given
Training Need
January/18 Choumuhony High
School, Cumilla
31 2985 3016 5200
February/18 Anser& VDP HQ,
Cumilla
59 3016 3075 5200
March/18 Crecent Model School,
Cumilla
27 3075 3012 5200
April/18 Cumilla Central Jail 40 3102 3142 5200
May/18 Primary Teachers
Training Institute,
Cumilla
67 3240 3209 5200
June/18 Noshratpur Govt.
Primary School,
Cumilla
31 3209 3240 5200
July/18 CumillaVictorial Govt.
College
57 3240 3297 5200
Agust/18 DaulatganjPrimary
School
40 3297 3337 5200
September/18 MadinatulUlumIslamia
Madrasa,
DaulatganjBajar
28 3337 3365 5200
October/18 Cumilla Medical
College, Cumilla
37 3365 3402 5200
Basic Fire Defense & First Aid
13. 1. What is document flow diagram?
2. Why document flow diagram is
important?
14. • Step 1 : Analyse statement
• Step 2 : Identify physical entities
• Step 3 : Identify documents which are
received/sent by each office
• Step 4 : Draw a physical document
15. “Fire station receives the information about fire from victims
with a location .A receiving office receives the location and make
a note of that location. Then he reported to Admin office with
that note . The admin office take the proper action. After action
the admin office reported it to the inspection office.”
ENTITIES IDENTIFIED-Victims , Receiving office , Admin office ,
Inspection office
• DOCUMENTS IDENTIFIED-Note of the address , Note of that
incident
16.
17. What is data flow diagram ?
A data flow diagram shows how data is processed
within a system based on inputs and outputs.
Visual symbols are used to represent the flow of
information, data sources and destinations, and
where data is stored.
18. Why data flow diagram is needed ?
For identifying the victim spot
Calculating the impairment.
Recorded the incident for future.
21. Unsatisfactory Performance :
Depends on entirely up-to the performance of Fire
Fighter Squad
Not having enough equipment’s
Managing complaints & Actions
Inappropriate Residence
22. Deficiencies :
Scarcity for funding for Frequent small purchase
Research for new invention
Insufficient Manpower
Latest Technology
23. High Cost of operation :
Frequent small purchase at high cost
Less storage space
Changing/repairing of tools/machines
24. Formulation of Main Goals
M.1 - Improve Services
M.2 – Improve Management
M.3 – Upgrade the system through Research & Technology
25. M.1 - Improve Services :
Recruiting enough skilled manpower
Training and knowledge on situation handling is required to
develop the skills
Reward System should be implied to increase the
performance
26. M.2 – Improve Management :
There should be managerial implications on both
operation and the staffs Residence, which is below the
living standard. Also there is inadequate space for the
station which should be increased.
27. M.3 – Upgrade the system through Research & Technology
Looking for new tactical and technological equipment’s -
Foam fire-suppression System
The Elide Fire Ball / Auto Fire Extinguisher Ball,
Thermite 3.0
This firefighting robot is called Thermite 3.0. It pumps 2,500
gallons of water per minute.
28. Life Guard hood
Designed to replace the traditional knit hood, with self-contained
breathing apparatus and turnout gear.
Cold Fire extinguisher
Cold Fire extinguishers remove the heat from the fire, breaking the
chemical chain reaction, as well as by encapsulating the fuel source
to prevent re-ignition.
Portable scene light
29. Proposal A
Repairing the damaged tools/machines
Increase Online awareness
Developing the skill of Fire fighter
30. Proposal B
Buying new tools/machines
Enlarging the station area
Manual Training & Awareness spreading
Increase Manpower
31. Evaluation of Proposed Solution
Technical Feasibility
Updated inventions will be added
Repairing the old ones is cost effective but time
consuming
Proposal A
32. Operational Feasibility
Service will be more effective
Train the fire fighter squad
To operate the online activity, it also needs technical
support
34. Cost Benefit Analysis
Online Activity
Developing online activity = 50,000 tk (approximately)
Employees salary for maintaining and update DB & the
system,
(20,000 x 2) = 40,000 tk
Total cost now in a year = (40,000 x 12) = 4,80,000 tk
Total =5,30,000tk(approximately)
35. Repairing Cost
This totally depends on the action and damages of the tools
and machines.
Monthly repairing cost = 15,000tk (approximately)
Yearly =(15,000x12)=1,80,000tk (approximately)
36. Skill Development Program
Workshop wise costing –
Single workshop costs = 10,000tk (approximately)
At least 2 workshop in a month,
So, yearly cost =(2x12x10,000)tk
=2,40,000tk(approximately)
37. Proposal B
Technical Feasibility
New features will be added
Space is needed for more functionality
Operational Feasibility
Service Need experts to operate the
operation
Set qualified recruit.
Have to recruit new Manpower
40. Manual Training
To create volunteer and for training = 15,000tk
Yearly cost = (12x15,000)tk
=180,000tk (approximately)
Enlarging Area & others
Approximate cost = 3,00,000tk
Recruitment & Training
Approximate cost in a Year = 5,00,000tk
41. Proposal Technical Operational Economical
Proposal A Ok Ok Less costly
Proposal B Ok Suitable for Long term Costly
Comparison
42. Proposed Solution :
Repairing the damaged tools/machines
Increase Online activity & awareness
Developing the skill of Fire fighter
Buying new tools/machines
Enlarging the station area
Improving Staff Residence
Manual Training & Awareness spreading
Increase Manpower
43. Future Work
With the speed that technology moves in every other industry, one has to wonder
what the future holds for the fire service. Here’s a glimpse.
Advanced biotelemetry
Artificial intelligence, or AI
Virtual, mixed and augmented reality (VR/MxR/AR)
Autonomous vehicles
Computer vision, Edge Detection & object recognition
Smart Cities